A recent article, 6 Things Your Competitors Can Teach You About Your Business by Candace Huntly says that as a business owner, you can learn from your competitors by watching what they are doing in terms of branding, marketing, PR, and just general business decisions. Nonetheless, it’s not about stealing ideas, but adapting some ideas to match your unique brand and style.
Here are four things you can learn from watching your competitors.
1. How to improve customer experience
Listening to what your competitor’s audience is saying about them and to them (whether positive or negative reviews) gives you the opportunity to make your customer experience better. For instance, if they are not satisfied about something, solve the issue in your own business. By creating a solution for their dissatisfaction with your competitor, you are making your business in executive suites more competitive.
2. How to interact with your audience
Understanding how your competitors interact with their audience and how they build customer loyalty allows you to improve your customer services. Try to figure out how fast they respond and solve customer issues or what social media they use to effectively interact with their audience.
3. How to use social media
Looking through your competitors’ social media profiles gives you better ideas of their activities.
- Do they have branding continuity in various platforms?
- Do they offer exclusive specials for social media followers?
- What content has gained the most engagement when they post?
- When and how often do they post?
- When do followers respond on social media?
4. What not to do
Knowing your competitors’ mistakes will prevent you from committing the same blunders. This allows you to be more cautious in your decision making.
Conclusion
Learning from other’s experiences will give you better chances to improve your business. Looking for better workspace solutions for your business in Ballantyne? YourOffice Ballantyne has come alongside dozens of businesses looking for everything from office space Ballantyne to meeting space Ballantyne. We know your business is unique, and your office space shouldn’t be any different. Let us match the perfect space or service to fit your business needs.
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